Nasdaq Death Cross Formed - EG

A death cross formed on the Nasdaq IXIC early this week. Still too early to tell which way the wind is blowing; Clearer signals after #G20

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As the trade war is put on hold for now, it appears that there is room for a short-term "Santa-Rally" for the Nasdaq. However, with a death cross formed, the technical setup does not look too reassuring.

With growth slowing into the next year, the Nasdaq will be impacted by slowing macro and company specific fundamentals going forward in 2019.